Here are some important figures from the budget of Nashville Nougats, Inc., for the second quarter of 2015 May June Credit sales Credit purchases Cash disbursements $324,000 $304,000 $364,000 132,000 155,000 180,000 Wages, taxes, and expenses Interest Equipment purchases 44,400 11,400 84,000 58,000 11,900 11,400 63,400 11,400 The company predicts that 5 percent of its credit sales will never be collected, 40 percent of its sales will be collected in the month of the sale, and the remaining 55 percent will be collected in the following month Credit purchases will be paid in the month following the purchase In March 2015, credit sales were $194,000 and credit purchases were $134,000. Using this information complete the following cash budget: (Do not round intermediate calculations. Leave no cells blank be certain to enter "O" wherever required.) April May June Beginning cash balance Cash receipts 127,000 $ Cash collections from credit sales Total cash available Cash disbursements Purchases Wages, taxes, and expenses Interest Equipment purchases Total cash disbursements Ending cash balance